Trump’s Risk With Looming EU Trade War
Digest more
This week's U.S. trade agreement with Japan could provide a framework for a pact with the European Union, experts say.
By Nora Eckert and David Shepardson DETROIT (Reuters) -Shares of General Motors, Ford Motor, and Jeep-maker Stellantis, some of the biggest automakers in the U.S., rallied on Wednesday after news of a trade deal that will reduce tariffs on imported Japanese cars,
Analysts see a potential path for other trading partners, including South Korea and the European Union, to strike their own deals.
Trump’s tariffs continue to affect markets and corporate earnings. Follow along for live updates on the Dow, S&P 500 and Nasdaq.
President Donald Trump announced new trade deals with Japan and the Philippines this week, bringing the total number of deals to five. However, several major trading partners still haven’t reached trade agreements with the U.S. ahead of the Aug. 1 deadlines.
The European Union and Japan will work more closely to counter economic coercion and address unfair trade practices, European Commission President Ursula von der Leyen told reporters on Wednesday.
The summit was moved from Brussels to Beijing, then reduced to one day from two. As the European Union struggles to curb China's unfair trade practices, are tougher tactics needed to cut the €400 billion trade deficit?